ACC 557 Week 4 Chapter 4 Quiz ( all possible questions )
This Tutorial contains All possible Questions from this chapter ( it contains more than 200 questions set )
SOME SAMPLE QUESTIONS ARE GIVEN BELOW OUT OF THOSE 200 QUESTIONS
1 ) A correcting entry is another name for a closing entry . may involve any combination of accounts . is a required step in the accounting cycle .
must involve one balance sheet account and one income statement account
2 ) A double rule applied to accounts in the ledger during the closing process implies that
the account balance is not zero . a mistake has been made , since double ruling is prescribed . the account is a temporary account . the account is a balance sheet account 3 ) The first required step in the accounting cycle is